Business

Business

UAE’s Ras al Khaimah reveals 20 attractions to get pulse racing

DUBAI: The UAE's northernmost emirate has revealed a 500 million dirhams ($136 million) tourism investment plan to tempt thrill seekers and lovers of the great outdoors.Ras Al Khaimah Tourism Development Authority revealed the plans at the Arabian Travel Market which kicked off in Dubai on Sunday.Some are located at Jebel Jais, the UAE’s highest peak…

Business

Gulf Air delays jet deliveries in difficult market

DUBAI: The UAE's northernmost emirate has revealed a 500 million dirhams ($136 million) tourism investment plan to tempt thrill seekers and lovers of the great outdoors.Ras Al Khaimah Tourism Development Authority revealed the plans at the Arabian Travel Market which kicked off in Dubai on Sunday.Some are located at Jebel Jais, the UAE’s highest peak…

Business

Philippines cuts rice tariffs to ensure food security, fight inflation

RIYADH: Online travel companies have reported a spike in searches from Saudis looking for overseas destinations ahead of a resumption of international flights from Monday.Wego, one of the largest online travel marketplaces in the Middle East and North Africa (MENA) region, had witnessed a 52 percent increase in international flight searches and a 59 percent…

Business

Dubai issues new LPG trading rules

RIYADH: Online travel companies have reported a spike in searches from Saudis looking for overseas destinations ahead of a resumption of international flights from Monday.Wego, one of the largest online travel marketplaces in the Middle East and North Africa (MENA) region, had witnessed a 52 percent increase in international flight searches and a 59 percent…

Business

UAE, Seychelles create travel corridor for vaccinated travelers

DUBAI: The UAE was the second largest source of remittances globally in 2020, followed by Saudi Arabia, according to the latest report from the World Bank.The US was the biggest source country, sending $68 billion abroad last year, while the foreign workers in the UAE sent home $43 billion and those in Saudi Arabia transferred…

Business

UAE and Saudi Arabia among biggest sources of remittances in 2020

RIYADH: A British medical technology company behind an innovative diabetes monitoring system has identified Saudi Arabia as one of its key target markets.Nemaura Medical has developed a wearables device which can help diabetics track their blood glucose levels, and the Kingdom is high on the firm’s international expansion plans list.Its sugarBEAT continuous glucose monitoring (CGM)…

Business

Digital coin ether hits record high as 2021 gains near 500 percent

RIYADH: Saudi Arabia issued 307 new factory licenses during the first three months of this year representing a total investment of SR17.72 billion ($4.73 billion), government figures have revealed. The number compared to 240 licenses issued during the same period last year, an increase of 27.92 percent year-on-year, according to data from the Ministry of…

Business

Saudi Arabia reports 428% surge in factory investment

RIYADH: Saudi Arabia issued 307 new factory licenses during the first three months of this year representing a total investment of SR17.72 billion ($4.73 billion), government figures have revealed. The number compared to 240 licenses issued during the same period last year, an increase of 27.92 percent year-on-year, according to data from the Ministry of…

Business

A bamboo bat? That’s just not cricket old boy

DUBAI: Saudi Arabia’s non-oil economy — the key focus of the Vision 2030 diversification strategy — has shown its first year-on-year growth since the beginning of the pandemic recession. “Flash estimate” figures released by the Kingdom’s General Authority for Statistics (GAS) revealed that, after a strong start to 2021 in non-oil activities, that sector of the…

Business

Saudi-owned ACWA Power starts to build Africa’s biggest renewables project

DUBAI: Saudi Arabia’s non-oil economy — the key focus of the Vision 2030 diversification strategy — has shown its first year-on-year growth since the beginning of the pandemic recession. “Flash estimate” figures released by the Kingdom’s General Authority for Statistics (GAS) revealed that, after a strong start to 2021 in non-oil activities, that sector of the…

Business

Egypt said to propose production cuts to ease cement glut

DUBAI: Saudi Arabia’s non-oil economy — the key focus of the Vision 2030 diversification strategy — has shown its first year-on-year growth since the beginning of the pandemic recession. “Flash estimate” figures released by the Kingdom’s General Authority for Statistics (GAS) revealed that, after a strong start to 2021 in non-oil activities, that sector of the…

Business

Saudization of schools to create around 28,000 new jobs for locals

NEW YORK: Colonial Pipeline, top US fuel pipeline operator, continued work on Sunday to recover from a ransomware cyberattack that forced it to shut down on Friday and sparked worries of a spike in retail gasoline prices.The incident is one of the most disruptive digital ransom operations ever reported and has prompted calls from American…

Business

Air Arabia eyes further cost cuts after first quarter profits falls by half

RIYADH: TIME Hotels is set to nearly double its portfolio of properties by 2025, including new hotels in Saudi Arabia. The UAE-headquartered hospitality company and hotel operator will reveal its plans to open eight new properties across the Middle East and the Indian Ocean over the next 18 months. Mohammed Awadalla, CEO, TIME Hotels, said…

Business

Lebanese ministries told to wait to grant approval for subsidized imports

DUBAI: Private jet traffic at one Dubai airport more than quadrupled in the first quarter as the sector rebounds strongly amid reduced commercial airline capacity.The Mohammed bin Rashid Aerospace Hub in Dubai South recorded a 336 percent increase in private jet traffic in the first three months of this year, totaling 4,904 charters, it said…

Business

Dubai hub private jet traffic quadruples as Gulf high fliers return to travel

WASHINGTON: US employers hired far fewer workers than expected in April, likely frustrated by labor shortages, leaving them scrambling to met booming demand as the economy reopens amid rapidly improving public health and massive financial help from the government. Nonfarm payrolls increased by only 266,000 jobs last month after rising by 770,000 in March, the…

Business

Egypt’s economy to rebound from 2022, S&P Ratings says

NEW DELHI: The EU and India will build joint infrastructure projects in Africa, Central Asia and the Indo-Pacific, an Indian Foreign Ministry official said on Saturday, after the conclusion of bilateral talks.  India and the EU also revived stalled free trade negotiations, while also seeking closer cooperation to combat climate change, as concerns about China bring…

Business

New DIFC law aims to attract global firms to Dubai

RIYADH: Two competing Saudi business-to-business online marketplaces have announced fundraising, a further sign of the growing interest in the region’s startups.Sary raised $30.5 million in a Series B round led by VentureSouq and joined by new investors US-based Rocketship.vc and STV, Sary said in a press release. Existing shareholders Ra’ed Ventures, MSA Capital and Derayah…

Business

Narrower Saudi budget deficit is credit positive, Moody’s says

RIYADH: Two competing Saudi business-to-business online marketplaces have announced fundraising, a further sign of the growing interest in the region’s startups.Sary raised $30.5 million in a Series B round led by VentureSouq and joined by new investors US-based Rocketship.vc and STV, Sary said in a press release. Existing shareholders Ra’ed Ventures, MSA Capital and Derayah…

Business

Saudi Arabia approves international central securities depositories instructions

RIYADH: Two competing Saudi business-to-business online marketplaces have announced fundraising, a further sign of the growing interest in the region’s startups.Sary raised $30.5 million in a Series B round led by VentureSouq and joined by new investors US-based Rocketship.vc and STV, Sary said in a press release. Existing shareholders Ra’ed Ventures, MSA Capital and Derayah…

Business

Saudi public debt up 5.6% to $240.4bn in Q1 2021

RIYADH: Al Hassan Ghazi Ibrahim Shaker Co. (Shaker), a Saudi importer, manufacturer and distributor of air conditioners (ACs) and home appliances, has reported that revenue in the first three months of 2021 grew 30.5 percent year-on-year to SR288.3 million ($76.88 million), resulting in a net profit of SR4.5 million for the quarter. The quarterly rebound…

1 2 70
Page 1 of 70
error: Content is protected !!